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Dec 9, 2012
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if he's in office in 2014 maybe we'll see a clinton/brown rematch. >> what did you learn today? >> that the democrats are not so optimistic about new jersey. they are optimistic about virginia it seems. but sandy seemed to be a good thing for chris christie. >> and also politics in virginia leading up to the attorney general who the governor may run as an independent. >> the attorney general who traditionally waits his turn, moves up to luents governor and then moves up to governor, a guy who is a big dialing of the conservative fan base and the republican party in virginia. the luents governor is set up to run for governor four years ago then had to wait another attorney general. he is not happy about this. he is -- according to "the washington examiner" he is thinking about running as an independent. the committee chairman, the clirn fundraiser would be the governor of virginia. if you would have told me that five years ago i would have called you nuts. >> one state we did not walk about today is wisconsin. it should be interesting because scott walker coming out of the succes
if he's in office in 2014 maybe we'll see a clinton/brown rematch. >> what did you learn today? >> that the democrats are not so optimistic about new jersey. they are optimistic about virginia it seems. but sandy seemed to be a good thing for chris christie. >> and also politics in virginia leading up to the attorney general who the governor may run as an independent. >> the attorney general who traditionally waits his turn, moves up to luents governor and then moves up...
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Dec 9, 2012
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everybody we have threats of government shutdown in the past -- the famous showdown with newt gingrich and clinton. when you have divided government, you have clashes of major philosophical difference. the key is being able to have an element of compromise as part of that process. that is exactly the place we are in right now, trying to find that point. >> the best model for all of you who are working so hard on this may well be speilberg's movie about lincoln. lincoln made deals. you know what, he achieved great, great goals. it goes to the point you are making -- politicians are supposed to play politics, that is not a dirty word. >> the legendary "bloomberg view" columnist -- margaret carlson. >> i had this plan for a couple weeks -- i thought, this could happen. when you said you cannot get people in the corner as the president has with the tax increase on the wealthy -- here is the plan. on december 31, the bush tax cuts expire. after you have your champagne and your funny hats on, on january 1 at 12:01 a.m., there is a middle-class tax cut and the top rate is 39.6%, then they are cut to 37%,
everybody we have threats of government shutdown in the past -- the famous showdown with newt gingrich and clinton. when you have divided government, you have clashes of major philosophical difference. the key is being able to have an element of compromise as part of that process. that is exactly the place we are in right now, trying to find that point. >> the best model for all of you who are working so hard on this may well be speilberg's movie about lincoln. lincoln made deals. you...
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Dec 10, 2012
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clinton did it legitimately, i think. but in other words, the keynesian idea was we run up a deficit when we have a swamp. we run up a large deficit when we have a slump and run up medium-sized deficits in times of prosperity. the u.s. government is spending about $3.6 trillion this year. federal spending has gone up at roughly twice the rate of economic growth. interest payments are temporarily manageable. but interest rates are at historic lows and likely to go up. our current situation is in no way comparable to that of the '40's when the national debt grew to an amount nearly equal to annual gdp. once the war ended, spending went down and the u.s. proceeded to grow at a greater than 4% annual rate for 20 years. that took care of the deficit or the debt with the problem. today, everything points in the other direction. interest rates are likely to go up. demand for further spending will increase for reasons i will get to a minute. state and local governments rely on federal transfers to balance their books. the state o
clinton did it legitimately, i think. but in other words, the keynesian idea was we run up a deficit when we have a swamp. we run up a large deficit when we have a slump and run up medium-sized deficits in times of prosperity. the u.s. government is spending about $3.6 trillion this year. federal spending has gone up at roughly twice the rate of economic growth. interest payments are temporarily manageable. but interest rates are at historic lows and likely to go up. our current situation is in...
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Dec 6, 2012
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so, hillary clinton i am for. i think it is really hard for a lot of presidents because the number one thing is to keep our ego out of it. i strongly support hillary clinton. i am very strong for education. i know that her being a democrat, i know that she would support obamacare and continue to support it and would not damage it in anyway. being a person who is impaired, i really appreciate that. host: last month there was a tribute, a video tribute, to hillary clinton. [video clip] >> she has put that all together in the pinnacle up until now in her public service which has in deer herd to millions and millions of people all over the world then the. ♪ >> she has been a splendid representative of the united states. >> she is doing it [indiscernible] ♪ >> in the end, it is not about being a good politician. it is about being a human being. >> we have always pushed human potential and promise forward. if you vbet on the side of human rights, human dignity, more countries may have the same extraordinary good for
so, hillary clinton i am for. i think it is really hard for a lot of presidents because the number one thing is to keep our ego out of it. i strongly support hillary clinton. i am very strong for education. i know that her being a democrat, i know that she would support obamacare and continue to support it and would not damage it in anyway. being a person who is impaired, i really appreciate that. host: last month there was a tribute, a video tribute, to hillary clinton. [video clip] >>...
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Dec 4, 2012
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that is what bill clinton second term was about. he could keep him from getting to that point of bringing everything to gavel. >> this came from his best friend who runs a parking company. he said obama has been ridiculed in his brain. he is constantly working the room excuse to get the right conversation to move them forward. he's always thinking a few steps ahead. if i did eight incident be they would to see -- if i do a and they do b, it would be c. he was in this particular kind of business. he wanted to be in a longer- term business. he did not make enough concessions to the day-by-day noise of washington. >> i call this his pregame aptitude. he plays the game before the players take the field. the trick is when you get to be president. it can create a kind of reticence, a step back quality that you missed. all those variables change. >> i think he is learning. i altered his landscape. as i do that, i am ahead of the pack. >> you're talking about striving for greatness. he is going to need to strive for greatness and reorganize
that is what bill clinton second term was about. he could keep him from getting to that point of bringing everything to gavel. >> this came from his best friend who runs a parking company. he said obama has been ridiculed in his brain. he is constantly working the room excuse to get the right conversation to move them forward. he's always thinking a few steps ahead. if i did eight incident be they would to see -- if i do a and they do b, it would be c. he was in this particular kind of...
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Dec 5, 2012
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restoring the clinton tax rates is something i would support. we supported them back in 1991 when bill clinton was running for president. no problem on that. it is a reasonable adjustment, but may not be sufficient to reach the targets we need, and it does not help us in bipartisan bargaining, reaching a deal. i hope as this negotiation -- we ought to be at the irish times -- that they will not make a fetish of marginal tax rates if they should go up some, but do they need to go back where they were? i do not know. lots of ways to increase taxes on rich people, and it may be that a hybrid of marginal tax increases and the kind of base- broadening, loophole closing, expenditure closing that simpson-bowles proposed should be part of the mix. raising marginal rates does not guarantee you will get your intended target. very rich people depend more on investment income than on their labor income. if you want to get them -- and this is where mitt romney was able to pay a 14% tax rate on earnings of $14 million -- so if you are trying to get the super-
restoring the clinton tax rates is something i would support. we supported them back in 1991 when bill clinton was running for president. no problem on that. it is a reasonable adjustment, but may not be sufficient to reach the targets we need, and it does not help us in bipartisan bargaining, reaching a deal. i hope as this negotiation -- we ought to be at the irish times -- that they will not make a fetish of marginal tax rates if they should go up some, but do they need to go back where they...
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Dec 4, 2012
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former chief of staff of bill clinton. john has to leave us early. we have the director of the urban institute's tax policy center. we'll see if you two disagree on anything. we have will marshal from the progressive policy institute. we have senator bob packwood from oregon, former chairman of the senate finance committee, part of the 1986 negotiations. and the other folks here have been part of the conversation. my only message to the new arrivals, please jump in whenever you see fit. we have an hour to an hour and a half. if you hear something you want to weigh in on, don't wait for me. we're talking now about the other very small issue in this issue and that is tax policy and how best to put the nation on a sustainable fiscal path. the question of revenue, how much, where to get it, the options on the table and would like your thoughts. as you heard from chairman bachus. they need ideas to bridge this gap because we appear to be at a stale mate. i turn it over to john to get your thoughts knowing he has to leave and the center for american progre
former chief of staff of bill clinton. john has to leave us early. we have the director of the urban institute's tax policy center. we'll see if you two disagree on anything. we have will marshal from the progressive policy institute. we have senator bob packwood from oregon, former chairman of the senate finance committee, part of the 1986 negotiations. and the other folks here have been part of the conversation. my only message to the new arrivals, please jump in whenever you see fit. we have...
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Dec 5, 2012
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a return to that, what we saw during the clinton years. what will that do to the economy? >> it will hurt, but it is necessary. let me make a few points. first, i think tax reform is obviously better than raising tax rates. raising the top marginal tax rate is less desirable than try to scale back reductions in the tax code. i think there are some reasonable approaches to tax reform. working for the day, going to the code to decide what is good and what is bad. given that is not going to be the case, i think a proposal like maya's or even the president's is reasonable, and there is a lot of agreement for tax reform. i think it is $600 billion from the president. i think there is room here for compromise. the second that i will say is that this tax reform will not generate enough revenue. $4 trillion. by my calculation, we do not need $4 trillion, but it is a bigger number than just tax reform will be able to generate, so in that context, we will have to let tax rates rise, and if we had to do that with an amount that would do the least economic damage, it would allow that
a return to that, what we saw during the clinton years. what will that do to the economy? >> it will hurt, but it is necessary. let me make a few points. first, i think tax reform is obviously better than raising tax rates. raising the top marginal tax rate is less desirable than try to scale back reductions in the tax code. i think there are some reasonable approaches to tax reform. working for the day, going to the code to decide what is good and what is bad. given that is not going to...
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Dec 9, 2012
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also, a piece on hillary clinton. president truman's oldest grandson, who was the first truman to travel to japan. tonight on c-span 3, a look at hiroshima. a talk with his trip and what he learned it. learned through his words teacher made that his grandfather went through and now he went through in hiroshige of. 6:00 for those on the west coast on c-span 3. here is a preview. [video clip] >> i tried to look down and i saw so many dead bodies floating on the surface. people --'s so many the people suffered from the burned bodies. they went into water. it jumped into the river. >> that was a survivor of the bombings in hiroshima telling her story for the first time to daniel on his first visit to the two cities where the bomb was dropped the in 1945. you are listening for the first time. what did you see your role as as you were listening to it? >> just to be there to listen to her and to let her speak and to let her do this for the first time. >> for her understanding she was talking to the grandson of the man who ma
also, a piece on hillary clinton. president truman's oldest grandson, who was the first truman to travel to japan. tonight on c-span 3, a look at hiroshima. a talk with his trip and what he learned it. learned through his words teacher made that his grandfather went through and now he went through in hiroshige of. 6:00 for those on the west coast on c-span 3. here is a preview. [video clip] >> i tried to look down and i saw so many dead bodies floating on the surface. people --'s so many...
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Dec 4, 2012
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going back to the clinton tax rates, remember, the average american family has taken a hit. median income four years ago was $54,000 a year. it is about $50,000 a year now. this portion of the population has been squeezed. adding taxes on 90% will not be helpful. how much do you want folks to bear? freezing those tax rates for the overwhelming majority of americans is a smart thing to do. host: you said fight later on. guest: the fight would start the next day. we could do what i'm talking about, and negotiations could continue. doing what i'm talking about does not violate what either side is fighting over. they both say this is something we want to do. why not make sure we do not have some last-minute failure at the end of december. guest: what gives you confidence that democrats would agree later on? guest: this is where i disagree with some of my colleagues. they seem to think the american people are leveraged, and this is the democrats leverage. our leverage is in the spending and entitlement issues. the president and his negotiators are smart and able people. they know
going back to the clinton tax rates, remember, the average american family has taken a hit. median income four years ago was $54,000 a year. it is about $50,000 a year now. this portion of the population has been squeezed. adding taxes on 90% will not be helpful. how much do you want folks to bear? freezing those tax rates for the overwhelming majority of americans is a smart thing to do. host: you said fight later on. guest: the fight would start the next day. we could do what i'm talking...
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Dec 4, 2012
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restoring the clinton tax rates is something i would support. we supported them back in 1991 when bill clinton was running for president. no problem on that. it is a reasonable adjustment, but may not be sufficient to reach the targets we need and it does not help us in bipartisan bargaining, reaching a deal. i hope as this negotiation -- we ought to be at the irish times -- that they will not make a fetish of marginal tax rates street if they should go up some, but do they need to go back where they work? i do not know. lots of ways to increase taxes on rich people, and it may be that a hybrid of marginal tax increases and the kind of base- broadening loophole closing expenditure closing that simpson-bowles proposed should be part of the mix. raising marginal rates does not guarantee you will get your intended target. a very rich people depend more on investment income than on their labour income. if you want to get them -- and this is where mitt romney was able to pay a 14% tax rate on earnings of $14 million -- so if you are trying to get the
restoring the clinton tax rates is something i would support. we supported them back in 1991 when bill clinton was running for president. no problem on that. it is a reasonable adjustment, but may not be sufficient to reach the targets we need and it does not help us in bipartisan bargaining, reaching a deal. i hope as this negotiation -- we ought to be at the irish times -- that they will not make a fetish of marginal tax rates street if they should go up some, but do they need to go back...
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Dec 6, 2012
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a combination of allowing the rates on high earners to go back up to what they were under president clinton, and reducing the value of tax deductions and other tax benefits that they get. before i get to how much can be raised by the second, let me just say the president is very, very supportive of curbing tax deductions for high-income households. it's been a part of his plan from his very first budget. in fact, he was and remains the only major leaguer in washington that has put forward a specific, explicit plan that would limit those tax benefits for high-income households that's been examined by the joint committee on taxation, which is the official referee for these issues in congress. that plan, though, doesn't raise the revenue that you need. so out of the president's $1.6 trillion, $950 billion comes from decoupling. decoupling is the high-income rates going away, the middle- class tax cuts becoming permanent. that gets you $950 billion of revenue. the question is could you plausibly replace that revenue just by limiting tax expenditures. there have been lots of different ideas out
a combination of allowing the rates on high earners to go back up to what they were under president clinton, and reducing the value of tax deductions and other tax benefits that they get. before i get to how much can be raised by the second, let me just say the president is very, very supportive of curbing tax deductions for high-income households. it's been a part of his plan from his very first budget. in fact, he was and remains the only major leaguer in washington that has put forward a...